Justin Sun invested $30 million in Donald Trump’s crypto project, World Liberty Financial (WLFI), becoming its largest investor.
Justin Sun has become the largest investor in Donald Trump’s crypto initiative, World Liberty Financial (WLFI), following his acquisition of $30 million in tokens.
In announcing the investment on X, Sun stated, “We are thrilled to invest $30 million in World Liberty Financial @worldlibertyfi as its largest investor. The U.S. is becoming the blockchain hub, and Bitcoin owes it to @realDonaldTrump! TRON is committed to making America great again and leading innovation. Let’s go!”
According to reports, a wallet associated with Sun-controlled HTX purchased 2 billion WLFI tokens at a price of $0.015 each.
World Liberty Financial’s Potentials
World Liberty Financial identifies itself as “a movement that aims to ensure the future of the US dollar in a digital world, while avoiding the centralized control of CBDCs.”
Trump is designated as the “chief crypto associate.” Eric Trump and Donald Trump Jr. are designated as Web3 Ambassadors.
Within the first hour of its launch, the initiative generated $220 million in sales of its WLFI token. At the time of this writing, 3.48 billion WLIF tokens have been sold, with 16.525 billion remaining.
Prior to Sun’s investment, the initiative had sold only $20 million in WLFI tokens, which was significantly less than its ambitious $300 million objective. The total amount reached $52 million as a result of Sun’s acquisition, which satisfied a substantial threshold specified in the project’s “gold paper.”
The President-elect’s company, DT Marks DEFI LLC, will be entitled to 75% of net revenues after the initiative raises $30 million, and Trump and his family will begin receiving payments as a result of this milestone.
“This sizable purchase of WLF tokens underscores the early success of this project,” World Liberty Financial co-founder Zak Folkman told Cointelegraph. “There have been several significant purchases in recent weeks, and we are confident in our future success as we build a platform that promotes freer and fairer finance.”
The project disclosed its intention to introduce its own stablecoin last month. The US dollar-pegged token is expected to be developed and launched by the initiative, which has reportedly raised $14 million. World Liberty Financial is presently in the process of ensuring that the product is market-safe.
Rich Teo, the co-founder of Paxos, was appointed as the project’s stablecoin leader by World Liberty Financial. The stablecoins Pax Dollar (USDP) and PayPal USD (PYUSD) are powered by Paxos.
